• 30 May, 2024
Market News

Election Buzz Boosts TRUMP Crypto, BODEN Faces Decline

As the U.S election season heats up, the crypto market is seeing significant activity, particularly around tokens associated with the leading presidential candidates. The TRUMP token has seen a remarkable increase in both price and trading volume, while the BODEN token has experienced a noticeable decline.

The TRUMP token, also known as MAGA, has seen a substantial rise in value and social activity recently. On May 9, the initial surge was attributed to positive comments from presidential candidate Donald Trump regarding the cryptocurrency sector. Although the cause for a subsequent spike in social activity is unclear, this increase led to a significant rise in the TRUMP token’s price.

Source: Santiment

Today, the price of MAGA (TRUMP) stands at $8.02, with a 24-hour trading volume of $7,855,386.57. This marks a 29.09% increase in the last 24 hours and an impressive 68.02% increase over the past week. With a circulating supply of 47 million TRUMP tokens, the market capitalization of MAGA is currently valued at $360,799,788.

However, despite the price surge, the weighted sentiment for the TRUMP token has significantly declined. This suggests that negative comments about the TRUMP token are becoming more prevalent across social media platforms.

MAGA (TRUMP) has outperformed the broader cryptocurrency market and its specific sector. Over the last seven days, the TRUMP token’s price has increased by 63.90%, whereas the global cryptocurrency market has seen a decline of -2.60%. Additionally, the TRUMP token has outperformed other cryptocurrencies within the Ethereum ecosystem, which have seen an average increase of 12.70%.

In contrast, the BODEN token has faced a significant downturn. The price of Jeo Boden (BODEN) is $0.3079, with a 24-hour trading volume of $7,014,658.57. This represents a -4.71% decline over the last 24 hours and a -29.24% decline over the past week. With a circulating supply of 690 million BODEN tokens, the market capitalization stands at $211,888,079.

Jeo Boden (BODEN) has underperformed compared to both the global cryptocurrency market and other meme cryptocurrencies. Over the past week, BODEN’s price has dropped by -29.30%, while the global market declined by -2.60%. Similarly, meme cryptocurrencies have experienced a smaller average decline of -7.90%.

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